Trump is my favourite comedian of the year already (6 Viewers)

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C

CCFCSteve

Well-Known Member
SBT said:
Bessent, like Mnuchin before him, is largely irrelevant. He’s there to reassure his contacts on Wall Street that there are adults in the room and try to rationalise the irrational in the occasional TV interview. He clearly has next to no influence on Trump’s decision making.
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I think you might be right if the rumours of Bessent being unhappy are true
 
B

Brighton Sky Blue

Well-Known Member
CCFCSteve said:
He’s far from rational but if you listen to Bessent there is possibly some method to the tariff madness. I think Trumps gone further than maybe Bessent wanted/ expected though.

Not sure about the tax cut side at the moment as I haven’t seen anything specific formulated although expect him to be a cutter and knowing Trump it’s unlikely to disadvantage him personally !

Will wait to see how it all plays out though as Trump intentionally creates so much ‘noise’, some as part of the negotiation and some as a diversion, so it’s hard to judge.
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You can get a good overview of the tax plans below. In essence, it's an enormous giveaway that will in part be supported by eliminating or kneecapping most government funding outwith the military and immigration. The Republicans had to ask for the debt limit to be increased because of how much money is being given away. As a party it has only ever existed to transfer wealth from the average person to the rich, and the proposals as written do that on a tremendous scale.

apnews.com

Senate GOP approves framework for Trump's tax breaks and spending cuts after late-night session

The Republican-controlled Senate has approved a budget framework that includes multitrillion-dollar tax breaks and spending cuts.
apnews.com apnews.com
 
Captain Dart

Captain Dart

Well-Known Member
Brighton Sky Blue said:
You can get a good overview of the tax plans below. In essence, it's an enormous giveaway that will in part be supported by eliminating or kneecapping most government funding outwith the military and immigration. The Republicans had to ask for the debt limit to be increased because of how much money is being given away. As a party it has only ever existed to transfer wealth from the average person to the rich, and the proposals as written do that on a tremendous scale.

apnews.com

Senate GOP approves framework for Trump's tax breaks and spending cuts after late-night session

The Republican-controlled Senate has approved a budget framework that includes multitrillion-dollar tax breaks and spending cuts.
apnews.com apnews.com
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The Republican party was originally an anti slavery party, the Democrats supported States rights to be slave owning.
 
P

PVA

Well-Known Member
FTSE down 6% in the first 10 mins of trading.

China, Japan, Germany, Australia all massively down.

Mad how one man's stupidity can have such crippling effects worldwide.
 
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chiefdave

chiefdave

Well-Known Member
PVA said:
Mad how one man's stupidity can have such crippling effects worldwide.
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While people cheer him on. Look what happened to Truss, as soon as the markets lost confidence she was fucked.

If Sunak or Starmer were causing these falls in the stock market they'd be gone.

But Trump is still be cheered on by people who will feel the pain of his actions, its very bizarre. Not sure I'd be trusting someone who has gone bankrupt so many times when he starts talking about the long game.
 
Sky_Blue_Dreamer

Sky_Blue_Dreamer

Well-Known Member
PVA said:
FTSE down 6% in the first 10 mins of trading.

China, Japan, Germany, Australia all massively down.

Mad how one man's stupidity can have such crippling effects worldwide.
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One thing that I wish would come from this is how stupid it is to place so much emphasis on things like stock markets.
 
Grendel

Grendel

Well-Known Member
chiefdave said:
While people cheer him on. Look what happened to Truss, as soon as the markets lost confidence she was fucked.

If Sunak or Starmer were causing these falls in the stock market they'd be gone.

But Trump is still be cheered on by people who will feel the pain of his actions, its very bizarre. Not sure I'd be trusting someone who has gone bankrupt so many times when he starts talking about the long game.
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Its not that big a deal in terms of stock markets - they will bounce back

During COVID my pension value crashed by around £80,000 - it still has averaged 5% growth from the period prior to the crash to now per annum including the fall.

In fact the bounce back will end up making higher growth
 
S

SBT

Well-Known Member
Grendel said:
Its not that big a deal in terms of stock markets - they will bounce back

During COVID my pension value crashed by around £80,000 - it still has averaged 5% growth from the period prior to the crash to now per annum including the fall.

In fact the bounce back will end up making higher growth
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He’s talking about the political implications which will clearly be significant.
 
Grendel

Grendel

Well-Known Member
SBT said:
He’s talking about the political implications which will clearly be significant.
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Is he? How will they be significant?
 
S

SBT

Well-Known Member
Grendel said:
Is he? How will they be significant?
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Yes he’s talking about the political future of leaders whose policies trigger financial unrest (i.e. Truss)

If the markets continue to fall then Trump will quickly lose political capital. Some of his top backers are already telling him he needs to give up on this policy. We are five days in.
 
P

PVA

Well-Known Member
fernandopartridge said:
Only around 1/5 people in the UK actively invest in the stock market, lots of people gain nothing from its gains and probably assume little from its losses.
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When you include things like crypto, ready made portfolios etc etc that number rises to 54% of UK adults:

www.finder.com

Investing statistics: How many people invest in the stock market?

Our research found more than a quarter (26%) of Brits have owned stocks and shares, and over half (54%) have invested in 2025.
www.finder.com www.finder.com
 
P

PVA

Well-Known Member
The US is building up forces in/near the Middle East. Iran has put it's army on high alert.

Is the orange one going to start bombing Iran to distract from crashing the markets? FFS surely not.

edit: Netanyahu is in Washington today as well.
 
fatso

fatso

Well-Known Member
SkyBlueCharlie9 said:
You don't say that about Starmer.
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Trump is doing what he said he'd do in his manifesto.

Starmer is a bullshiter who's doing exactly the opposite of what he said he'd do in Labours manifesto.

Such as
Not raising council tax,
Not ending winter fuel allowance for our pensioners,
Putting an end to immigrant hotels,
Not limiting child allowance etc etc etc
 
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shmmeee

shmmeee

Well-Known Member
PVA said:
FTSE down 6% in the first 10 mins of trading.

China, Japan, Germany, Australia all massively down.

Mad how one man's stupidity can have such crippling effects worldwide.
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When does the US open? Will that take the brunt?
 
Sky Blue Pete

Sky Blue Pete

Well-Known Member
fatso said:
Trump is doing what he said he'd do in his manifesto.

Starmer is a bullshiter who's doing exactly the opposite of what he said he'd do in Labours manifesto.

Such as
Not raising council tax,
Not ending winter fuel allowance for our pensioners,
Putting an end to immigrant hotels,
Not limiting child allowance etc etc etc
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Brilliant rhetoric
Trump said he would mess up everything mmmm not sure he did
 
W

wingy

Well-Known Member
fatso said:
Trump is doing what he said he'd do in his manifesto.

Starmer is a bullshiter who's doing exactly the opposite of what he said he'd do in Labours manifesto.

Such as
Not raising council tax,
Not ending winter fuel allowance for our pensioners,
Putting an end to immigrant hotels,
Not limiting child allowance etc etc etc
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Well there's something going on at the minute regarding the second last part of your list, something about begging them to continue providing for the clients while having difficulty getting paid?
 
torchomatic

torchomatic

Well-Known Member
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